Two must-have words when issuing rewards

Money doesn’t grow on trees, so when it comes to issuing rewards, there are two must-have words that should preceed the reward amount. They are “Up To”.

All too often crime reporting hotlines offer a standard $5,000 reward. The problem is that 20 people call in tips and now you have to payout $100,000 when you budget for the reward was only $5,000. The way to do this is to use the term “up to”. This controls many facets of the reward product.

First, if the quality of the tips is poor you can issue a lesser amount to the tipster. This helps maintain your crediability and shows that you will honor your word.

Second, if there are a lot of tips, you can offer everyone a piece of the reward. Again, maintaining your reputation and word.

The biggest challenge in business today is maintaining your reputation and one way to do it is to honor your word. Using the key phrase “up to” is one sure fire way to keep your reward program on the up and up.